February figures for the main high street banks
February's net mortgage lending strengthened, reflecting some increase in the banks' market share as a result of recent strong remortgaging. Credit card lending remained subdued, while personal deposits continued with above-average growth. Lending to financial companies returned to trend having been inflated in January.
|seasonally adjusted data||mortgage lending||consumer credit||personal deposits||company finance|
|February net change||+ £5.6 bn||+ £0.6 bn||+ £2.6 bn||+ £15.7 bn|
|(previous month)||+ £5.0 bn||+ £0.4 bn||+ £2.9 bn||+ £23.7 bn|
|previous six month average||+ £5.1 bn||+ £0.5 bn||+ £1.9 bn||+ £11.9 bn|
|annual growth||+ 12.8 %||+ 5.4 %||+ 5.4 %||+ 20.3 %|
|amounts outstanding nsa||£558.2 bn||£107.7 bn||£555.6 bn||£694.1 bn|
BBA statistics director, David Dooks, said of the latest data:
"In an environment of tightening lending criteria, re-mortgaging, either to fix, re-fix, or reduce borrowing costs, has been a clear influence on mortgage data in the first two months of this year, resulting in mainstream lenders picking up market share.
Despite the relative pick-up in February’s reported retail sales, consumer credit and cards in particular, continued to be subdued."